Pickup volume of long-term contracts from downstream improves, and finished product in-plant inventory of secondary refined lead smelters declines [SMM Weekly Review of Secondary Lead Inventory]

SMM July 18 News:

As of July 17, 2025, the finished product inventories of secondary lead smelters stood at 20,900 mt, a decrease of approximately 1,500 mt WoW. This week, lead prices were in the doldrums, and downstream enterprises showed moderate enthusiasm for inquiries, with an improvement in purchase volumes. Additionally, the current production of most secondary lead smelters is only sufficient to fulfill long-term contracts, resulting in minimal accumulation of finished product inventories. When downstream enterprises' willingness to purchase improves, in-plant inventory levels decline. Due to the continuous decline in lead prices, multiple smelters indicated on Friday that they had limited inventory and would not be selling for the time being. Next week, we need to observe the impact of lead price trends and enterprises' willingness to sell on finished product in-plant inventories.

》Subscribe to view historical spot prices of SMM metals